Shiba

Shiba Inu

TL;DR
<ul>
 <li>Ripple won a major cross-border payments award and made progress on its RLUSD stablecoin.</li>
 <li>SHIB saw high volatility, briefly surged, but then declined; analysts remain cautiously optimistic.</li>
 <li>Bitcoin dropped in early October, but some see potential for recovery.</li>
</ul>
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<h2 id="what-s-new-around-ripple-xrp">What’s New Around Ripple (XRP)?</h2>
The company made the headlines lately, securing yet another accolade. As CryptoPotato <a class="editor-rtfLink" href="https://cryptopotato.com/important-ripple-xrp-announcement/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">reported</a>, Juniper Research (an entity that specializes in delivering in-depth market research and strategic insights for the digital technology sector) awarded Ripple the Platinum prize for best cross-border payments platform in 2024.&nbsp;
Previously, Ripple <a class="editor-rtfLink" href="https://cryptopotato.com/ripple-wins-a-very-prestigious-award-in-the-uk/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">won</a> the payment prize in the UK&nbsp;–&nbsp;the PAY360 Awards – while Fortune Magazine placed it among the top 50 workplaces for technology in 2023.
RLUSD – the firm’s upcoming stablecoin – has also witnessed some progress. Ripple minted and burned thousands of tokens as part of the private beta testing phase over the last few weeks. 
Most recently, the X user Vet <a href="https://cryptopotato.com/ripple-xrp-ledger-pushes-code-review-to-enable-rlusd-integration-with-amms/" data-wpel-link="internal" rel="noopener noreferrer nofollow">claimed</a> the XRP Ledger amendment to allow (clawback) tokens like RLUSD to be employed in the AMM (Automated market makers) “went through the code review.” They argued that the next step involves “some cosmetics and merge into a new rippled release for validators to vote on.”
Despite these developments, XRP keeps underperforming. It <a href="https://cryptopotato.com/xrp-price-crashes-12-as-sec-appeals-in-the-ripple-lawsuit/" data-wpel-link="internal" rel="noopener noreferrer nofollow">plunged</a> by double digits to around $0.51 at the start of October when the SEC appealed a 2023 verdict in the case against Ripple. Currently, the token is worth around $0.52 (per CoinGecko’s data), representing a 9.5% decline on a two-week scale.&nbsp;
<figure id="attachment_365375" aria-describedby="caption-attachment-365375" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/10/XRP-Price-5.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="wp-image-365375" src="https://cryptopotato.com/wp-content/uploads/2024/10/XRP-Price-5.png" alt="XRP Price" width="587" height="400" srcset="https://cryptopotato.com/wp-content/uploads/2024/10/XRP-Price-5.png 1065w, https://cryptopotato.com/wp-content/uploads/2024/10/XRP-Price-5-300x205.png 300w, https://cryptopotato.com/wp-content/uploads/2024/10/XRP-Price-5-1024x698.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/10/XRP-Price-5-768x524.png 768w, https://cryptopotato.com/wp-content/uploads/2024/10/XRP-Price-5-50x34.png 50w" sizes="(max-width: 587px) 100vw, 587px"></a>
 <figcaption id="caption-attachment-365375" class="wp-caption-text">
 XRP Price, Source: CoinGecko
 </figcaption>
</figure>
<h2 id="span-data-preserver-spaces-true-shib-s-ups-and-downs-span">SHIB’s Ups and Downs</h2>
At one point yesterday (October 9), the popular meme coin was among the top-performing cryptocurrencies. Its solid (albeit brief) increase <a class="editor-rtfLink" href="https://cryptopotato.com/shiba-inu-shib-price-soars-4-daily-as-exchange-reserves-keep-declining/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">coincided</a> with plunging SHIB exchange reserves and an explosion of the burn rate by over 400%. However, bears stepped in, and the asset’s price is well in the red today (October 10). 
<figure id="attachment_365376" aria-describedby="caption-attachment-365376" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/10/SHIB-Price-4.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="wp-image-365376" src="https://cryptopotato.com/wp-content/uploads/2024/10/SHIB-Price-4.png" alt="SHIB Price" width="570" height="400" srcset="https://cryptopotato.com/wp-content/uploads/2024/10/SHIB-Price-4.png 1058w, https://cryptopotato.com/wp-content/uploads/2024/10/SHIB-Price-4-300x210.png 300w, https://cryptopotato.com/wp-content/uploads/2024/10/SHIB-Price-4-1024x718.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/10/SHIB-Price-4-768x539.png 768w, https://cryptopotato.com/wp-content/uploads/2024/10/SHIB-Price-4-50x35.png 50w" sizes="(max-width: 570px) 100vw, 570px"></a>
 <figcaption id="caption-attachment-365376" class="wp-caption-text">
 SHIB Price, Source: CoinGecko
 </figcaption>
</figure>
Despite the enhanced volatility, multiple analysts envision good days ahead. Not long ago, the X user Yoddha <a class="editor-rtfLink" href="https://cryptopotato.com/shiba-inu-shib-might-be-gearing-up-for-a-130-price-increase-analyst/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">claimed&nbsp;</a>the price pattern had formed a specific triangular shape, which could be followed by a 130% rally&nbsp;if broken to the upside. Conversely, Altcoin Daily <a class="editor-rtfLink" href="https://x.com/AltcoinDailyio/status/1843006967864029642" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">warned</a> investors that ultra-optimistic targets like $0.01 are basically impossible:
<blockquote>
 “I heard someone talking about&nbsp;they bought&nbsp;SHIB because if it only goes to 1c next year&nbsp;then&nbsp;they will be a millionaire. This is literally not possible with SHIB’s current market cap. Learn how to value coins in market cap&nbsp;vs&nbsp;price.”
</blockquote>
<h2 id="span-data-preserver-spaces-true-no-uptober-for-btc-yet-span">No ‘Uptober’ for BTC… Yet</h2>
Many members of the crypto community expected bitcoin’s (BTC) price to surge substantially throughout October since the month has historically been quite successful for the industry in general.&nbsp;
The primary cryptocurrency, though, started the month on the wrong foot, dropping from over $65K at the end of September to $60K a few days later. It recovered some losses, rising to almost $64,000 on October 7 before taking another turn south. Currently, BTC trades at around $61,000, or a 5% decrease in the past two weeks.&nbsp;
<figure id="attachment_365377" aria-describedby="caption-attachment-365377" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/10/BTC-Price-2.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="wp-image-365377" src="https://cryptopotato.com/wp-content/uploads/2024/10/BTC-Price-2.png" alt="BTC Price" width="578" height="400" srcset="https://cryptopotato.com/wp-content/uploads/2024/10/BTC-Price-2.png 1047w, https://cryptopotato.com/wp-content/uploads/2024/10/BTC-Price-2-300x208.png 300w, https://cryptopotato.com/wp-content/uploads/2024/10/BTC-Price-2-1024x709.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/10/BTC-Price-2-768x532.png 768w, https://cryptopotato.com/wp-content/uploads/2024/10/BTC-Price-2-50x35.png 50w" sizes="(max-width: 578px) 100vw, 578px"></a>
 <figcaption id="caption-attachment-365377" class="wp-caption-text">
 BTC Price, Source: CoinGecko
 </figcaption>
</figure>
According to some market observers, the asset may soon return to the green track. X user Ash Crypto <a class="editor-rtfLink" href="https://x.com/Ashcryptoreal/status/1844243053244187039" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">speculated</a> that BTC has broken out from the falling wedge pattern in the weekly pattern and escaped the 6-month descending channel. As such, they predicted a possible “bounce from here.”
The post <a href="https://cryptopotato.com/recent-ripple-xrp-updates-shiba-inu-shib-price-volatility-and-more-bits-recap-oct-10/" rel="noopener noreferrer nofollow">Recent Ripple (XRP) Updates, Shiba Inu (SHIB) Price Volatility, and More: Bits Recap Oct 10</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Recent Ripple (XRP) Updates, Shiba Inu (SHIB) Price Volatility, and More: Bits Recap Oct 10

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